The Capital One® Savor® Cash Rewards Credit Card offers a $300 bonus after you spend $3,000 in the first 3 months.
As the name subtly hints, this card is targeted to consumers that dine out often, where the earnings rate is the highest at 4% cash back (previously 3%). The updated 4% rate now also applies to purchases categorized as “entertainment”. The second highest earning category is at grocery stores, where you’ll earn 2% cash back.
What counts as dining?
Purchases at restaurants, cafes, bars, lounges, fast-food chains and bakeries.
What counts as entertainment?
Buying tickets to a movie, play, concert, sporting event, tourist attraction, theme park, aquarium, zoo, dance club, pool hall or bowling alley. Also, making purchases at record store and video rental locations. This excludes non-industry entertainment merchant codes like cable, digital streaming, and subscription services.
What counts as a grocery store?
A supermarket, meat locker, freezer, dairy product store and specialty market. Excludes superstores like Walmart and Target.
The $300 bonus is a good value, but this card does have a $95 annual fee. The good news is that the annual fee is waived the first year so you can give the card a full trial run. While there’s nothing groundbreaking with this card, it will come in handy for users with the intended needs.
If you’re mostly staying put in your hometown and eat out often, then this card may be the right fit for you. Or, perhaps you have a large family and everyone only eats organic, racking up hefty grocery store spending each month.
If you’re not spending heavy on Dining, Entertainment and at Grocery Stores, there are several No Annual Fee credit cards that can earn 1.5% on ALL purchases (e.g. Capital One® Quicksilver® Cash Rewards Credit Card [1.5%], Chase Freedom Unlimited® [1.5%]).
|Bonus Available||$300 cash when you spend $3,000 within the first 3 months.|
|Ongoing Rewards/Benefits||4% cash back on dining and entertainment.|
2% cash back at grocery stores.
1% cash back on all other purchases.
8% cash back on tickets at Vivid Seats through May 2020.
|Foreign Transaction Fees?||None|
|Annual Fee||$95, waived the first year|
*Bonus value is an estimated value calculated by MoneysMyLife and not the card issuer. Read our card review for more details.
View our latest valuations here.
Capital One Savor Cash Rewards Credit Card $300 Bonus
A $300 sign-up bonus is a surprisingly high value offer for such a card. If you’d like to compare it to other great sign-up bonuses, see our Credit Card Bonuses page.
To earn the $300 bonus with the Savor rewards card, spend $3,000 on purchases within the first 3 months of account opening. This high spending requirement is expected for such a big bonus offer.
Ways To Meet The Spending Requirement
If for whatever reason you find yourself unable to reach that $3,000 spending requirement in the first 3 months (maybe you’re applying for several card bonuses?), below are some good options:
Capital One Savor Cash Rewards Credit Card Benefits
The 4% cash back on dining/entertainment and 2% at grocery stores (it’s the standard 1% on all other purchases) are the obvious reasons for jumping on this card, and the cash back you earn has no maximum caps and no rotating categories to be concerned with. Your cash back will never expire, and there’s actually no minimum threshold you must reach before you can redeem your earnings.
While we think it’s best to carry a better Travel specific credit card when you’re abroad, it’s nice to know the Savor card actually won’t incur any foreign transaction fees out of the country. It’s typically 3% for such spending with cards that don’t offer this perk.
What’s The Competition?
The Savor Cash Rewards card from Capital One is actually a good option for those with specific Dining and Grocery Store spending needs, but you’ll definitely want to take a look at some other options before making the final decision.
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